NVIDIA (NVDA) well positioned with a strong ecosystem - CICC

CICC analysts said in a note Wednesday that NVIDIA (NASDAQ: NVDA) is well-positioned in AIGC with advanced technologies and a strong ecosystem. The firm initiated coverage of the stock with an Outperform rating and a target price of $870.

"In our view, NVIDIA as a pioneer of accelerated computing has advantages in artificial intelligence (AI) technologies and ecosystem and will likely benefit from the accelerating infrastructure construction for AI-generated content (AIGC)," wrote the firm.

The firm notes that cloud and AIGC are driving the rapid growth of Nvidia's data center business, with the integration of software and hardware helping to accelerate the development of computing platforms and strengthen competitive advantages.

In gaming, they believe the company maintains long-term leadership in the high-end graphics card market on advanced technologies and ecosystems.

Furthermore, they see intelligent driving as a potential new earnings growth driver. They note NVIDIA is building itself into a SoC-based intelligent driving solution supplier.

By Sam Boughedda

You May Also Be Interested In

• FedEx (FDX) PT Lowered to $424 at Bernstein SocGen Group
• Morgan Stanley Resumes Global Payments (GPN) at Equalweight
• nCino Inc. (NCNO) PT Raised to $17 at JPMorgan